11 Best Las Vegas Stocks To Buy Now

6. Las Vegas Sands Corp. (NYSE:LVS)

Number of Hedge Fund Holders: 40

Las Vegas Sands Corp. (NYSE:LVS) is an international developer and operator of casino resorts with principal operations in Macao and Singapore. The company entirely focuses on the Asian market and runs 5 casinos in Macao and a Marina Bay Sands resort in Singapore.

Unfortunately, COVID-19 had an adverse effect on the company as the pandemic plunged activity in Macao and the company struggled to maintain its profitability till 2022. However, there is good news for investors of Las Vegas Sands Corp. (NYSE:LVS). The business has started to gain back its traction, especially with gambling and sports betting getting legalized in Asian countries. The company is expected to reap good results as Macao remains one of the world’s biggest gaming markets due to its cultural affinity with China. Moreover, its Marina Bay Sands resort in Singapore is also showing signs of recovery.

Net revenue and net income of Las Vegas Sands Corp. (NYSE:LVS) were up 8.6% and 15% year-over-year. The revenue and income growth was driven by strong revenue generation from both Macao and Singapore operations. The company has still not reached its 2019 potential and is receiving only 61% of its pre-pandemic visitors.

The company’s balance sheet also looks robust. It had unrestricted cash balances of $4.71 billion as of June 2024, indicating its strong cash position in the Asian market. At the end of Q2 2024, 40 hedge funds were bullish on LVS, with their total positions amounting to $2.3 billion. Viking Global is the top shareholder of the company and holds shares worth more than $875.5 million.